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In a recent tweet, XRPL Validator Vet brings attention to the fact that the XRP Ledger isn't controlled by anyone, highlighting the importance of this decentralization.
"Nobody can control the XRP Ledger. It's enforced and run by every single one who chooses to participate. A system no one can control is better than a system someone can control when it comes to money and value," Vet wrote.
Just like most decentralized systems, the XRPL has a defined set of rules for all participants to follow, so that they can agree on the exact same series of events and outcome at any point in time. This set of rules is referred to as a consensus protocol.
The XRP Ledger utilizes a unique consensus protocol which has some important properties including: everyone who uses the XRP Ledger can agree on the latest state and which transactions have occurred in which order. Second, all valid transactions are processed without needing a central operator or having a single point of failure.
Third, the ledger can make progress even if some participants join, leave, or behave inappropriately. Also, if too many participants are unreachable or misbehaving, the network fails to make progress rather than diverging or confirming invalid transactions.
XRP Ledger Trust-Based Validation Explained
The core principle behind the XRP Ledger's consensus mechanism is that a little trust goes a long way.
Each participant in the XRPL network chooses a set of validators, servers specifically configured to participate actively in consensus. These are run by different parties who are expected to behave honestly most of the time, based on the protocol. As a matter of importance, the set of chosen validators should not be likely to collude with one another to break the rules in the exact same way. This list containing this set of chosen trusted validators is called a Unique Node List, or UNL.
As the network progresses, each server listens to its trusted validators. As long as a substantial percentage of them agree that a set of transactions should occur and that a given ledger is the result, the server declares a consensus. If they don't agree, validators adjust their proposals to match closely with the other validators they trust, repeating the process in several rounds until they reach a consensus.
Dan Burgin
U.Today Editorial Team
